GfK: UK consumer confidence reaches three-month high in March

UK consumer confidence rose for the second consecutive month in March, reaching a three-month high, according to a GfK survey. The index stood at -19 points, up from -20. The growth occurred amid improved expectations of citizens about the economic situation in the country.

Having surveyed 2015 British citizens over the age of 16 from February 28 to March 13, the researchers noted a contradictory situation. Despite a more positive view of the economy as a whole, the population remained concerned about the state of their personal finances. To make matters worse, the Chancellor of the Exchequer, Rachel Reeves, is set to announce further spending cuts.

Commenting on the latest data, Neil Bellamy, head of consumer research at GfK, emphasized the fragility of the stability observed. According to him, even small negative factors can significantly worsen consumer sentiment.